Sec. 265.041. TERMS OF BONDS. (a) The revenue bonds may mature serially or otherwise not more than 40 years after they are issued. The bonds may bear interest at a rate not to exceed the maximum rate provided by Chapter 1204, Government Code, and may be made redeemable prior to maturity.
(b) The bonds and any appurtenant interest coupons are negotiable instruments.
(c) The bonds may be made registrable as to principal or as to principal and interest.
(d) The directors may determine, in the proceedings authorizing the issuance of the bonds:
(1) the form, denominations, and manner in which the bonds are issued;
(2) the terms and details under which the bonds are issued; and
(3) the manner in which the bonds are executed.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.258, eff. Sept. 1, 2001.
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